---
schema_version: "secwatch.filing_event.v1"
accession: "0000039911-21-000110"
form_type: "8-K"
ticker: "GAP"
cik: "0000039911"
company_name: "GAP INC"
filed_at: "2021-09-13T23:59:59+00:00"
generated_at: "2026-06-29T04:19:48.379562+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Gap launches $1.5B refinancing: tenders secured notes, prices new unsecured debt

## Summary
- Offers to purchase any & all of 8.375% 2023 ($500M), 8.625% 2025 ($750M), 8.875% 2027 ($1B) secured notes.
- Total consideration includes $30 early-tender premium per $1,000; exp. Oct 8, 2021; early deadline Sep 24.
- Priced $750M of 3.625% notes due 2029 and $750M of 3.875% notes due 2031 at par, closing Sep 27.
- Proceeds plus cash on hand to fund the tender; consent solicitation seeks to remove covenants & release collateral.
- Tender condition requires raising $1.5B from new notes issuance; remaining secured notes may be retired later.

## SEC filing metadata
- accession: 0000039911-21-000110
- form_type: 8-K
- ticker: GAP
- cik: 0000039911
- company_name: GAP INC
- filed_at: 2021-09-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39911/000003991121000110/0000039911-21-000110-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39911/000003991121000110/gps-20210913.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000039911-21-000110
- JSON: https://secwatch.observer/filing/0000039911-21-000110.json
- Plain text: https://secwatch.observer/filing/0000039911-21-000110.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.